September 11 Commission Report - Gnostic Liberation Front

saw the open courtroom, and that is the group that set out to destroy the World Trade
Center. These are the executives who were worried that an investigation and trial would
expose their gold laundering activity. This report speculates that gold being sold on the
market was not ‘artifically created,’ but rather illegal, stolen gold that needed to be
laundered. If the illegal gold was confiscated by the judicial system, the bankers
responsible for protecting the gold would be help responsible, and their lives – most
likely – would be forfeit.
The argument that the attack on the WTC was an attempt to silence an investigation into
gold transactions and money laundering has never seriously been considered. In a world
that has recently seen reports of the disappearance of 4,000 to 60,000 tonnes of illegal
gold stolen from various national treasuries, no one seems to have asked: how is this gold
being laundered. The selling behavior demonstrated by the bullion banks could also be
interpreted as selling off huge, illegal gold hoards at a previously agreed upon price point.
The hypothesis that a large portion of this may be laundered by the Deutsche Bank
becomes more compelling when one focuses on the Deutsche Bank, and its possible
reasons for wanting this investigation quashed – which no one, except maybe the FBI,
has focused on. The Deutsche Bank (along with Dresdner, and US banks) had been
conducting gold sales for years, and indeed, it was speculated in the GATA suit that the
European banks in general had illegally dumped large amounts of their reserve gold to
buoy up bank profitability.
"Deutsche Bank, the largest German bank, which had precious metals derivatives at the end of 1996
with a total notional value under US$5 billion, by the end of 1999 had grown this business to a total
notional value in excess of $50 billion, or by more than 10 times in three years. What is more, a huge
amount of this growth came in 1999, especially in the last half, as can be seen by comparing the
average notional value for 1999 ($37.7 billion) with the year-end notional value ($51.2 billion). Note
also that this growth was almost all in the longer maturities. Nor can the 1999 growth in Deutsche
Bank's precious metals derivatives be ascribed in any major way to its acquisition of Banker's Trust. Its
OCC report for March 31, 1999, listed precious metals derivatives with a total notional value of around
$6 billion, which by June 30 were just over $1 billion….."
"The only major gold fund manager that I know who never owned a single share of Bre-X told me that
he never bought the stock because: (1) even if you believed the company's story, the stock almost
always looked too expensive; and (2) however great the ore deposit, large gold reserves are not built as
quickly or as easily as Bre-X claimed to do. So too, the amazing emergence of Deutsche Bank from
almost no gold derivatives business in 1996 to a book with a notional value approaching 5000 tonnes,
larger by far than the book of any of the three principal U.S. commercial banks in this business, does
not pass the smell test. Indeed, it is very hard to see any reason for the rapid creation of this huge
position in gold derivatives other than to try to manipulate and control gold prices.
[www.goldensextant.com, MPEG Commentary]
The question needs to be asked, however: what if the German banks, but primarily the
Deutsche Bank – and possibly some American banks - were not selling its gold reserves,
but rather was laundering gold for its clients from the dark side? Until this report, there
has been no mention of this possibility. Not too long ago, several previous board
members of the Deutsche Bank were indicted for helping high profile clients avoid taxes
by laundering money into Switzerland. The bank certainly also had a reputation for the
less dignified money laundering activity associated with ‘organized crime’ and the
THE SEPTEMBER 11 COMMISSION REPORT Page 152